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Australia bank rally leaves fund managers breathless

Wednesday, January 11, 2017 - 05:50

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The largest surge in the commonly used price-earnings metric, based on estimated profit, was at Australia & New Zealand Banking Group, where the forward PE went from below 9 less than one year ago to 13.5 on Jan 9, a more than 50 per cent increase in valuation.

Sydney

ONE of the fastest rallies for Australian banks in six years is prompting fund managers to stop and catch their breath.

Randal Jenneke of T Rowe Price is pausing after moving overweight in the banking sector before the US elections.

"We are keen to increase our

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